PEORIA -- Illinois Comptroller Judy Baar Topinka says the ever-long list of vendors waiting on payments from the state means taxpayers have to pay interest and their money is being "flushed away."
That's according to a story posted online Sunday in the Rockford Register Star. The story is part of GateHouse newspapers' series on Illinois' backlog of unpaid bills.
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The newspaper reports the total for outstanding bills was roughly $6 billion last week but tens of millions collected in income taxes will be diverted to cover interest owed on late payments. If the state doesn't pay its bills on time -- after 90 days -- private vendors become eligible for interest, which accrues monthly until bills are paid.
Topinka says it's another way that taxpayers are paying for years of financial mismanagement.